On Monday, silver finished nearly unchanged, rising by less than a penny, while gold, platinum, and palladium declined. The latter two experienced sharp drops.
Gold for June delivery shed $6.90, or 0.4%, to settle at $1,992.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since April 21.
"Technically, June gold futures bulls have the firm overall near-term technical advantage. However, a price uptrend on the daily bar chart has been negated. Bulls’ next upside price objective is to produce a close above solid resistance at the April high of $2,063.40. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the April low of $1,965.90," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,985.70 and $2,015.40, after rising 0.4% last week to lift their April gain to 0.7%.
Silver for July delivery climbed by a fraction of a cent, or 0.02%, settling at $25.23 an ounce. Meanwhile, silver futures fluctuated between $25.14 to $26.21, after posting a 0.7% rise last week that contributed to their April increase of 4.4%.
In other precious metals prices on Monday:
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July platinum fell $25.40, or 2.3%, to $1,064.70 an ounce, trading between $1,062.30 and $1,103.80.
- Palladium for June delivery tumbled $63.10, or 4.2%, to $1,446.80 an ounce, ranging from $1,439 to $1,514.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Monday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 37,000 | 41,500 | 211,000 | 159,000 | 529,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,000 | 19,500 | 73,000 | 61,000 | 212,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 8,000 |
